Infinito Wallet Among First to Implement EOS Tokens Registration

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The new project called Infinito Wallet with headquarters on the Isle of Man, UK, will begin to accept official EOS tokens registration starting May 16. This procedure is obligatory to convert ERC20 EOS tokens to its own platform base. Furthermore, the Infinito Wallet accepts seven major coins, as well as all tokens, based on the Ethereum ERC20 and NEO NEP-5 blockchain platforms. The project has an app available for iOS and Android. Founded in 2017 in the UK, Infinito Wallet aims to become a real universal wallet for all kinds of cryptocurrencies. The product already supports a wide variety of coins: Bitcoin, Ethereum, BitcoinCash, Litecoin, NEO, DASH and Dogecoin. Ethereum Classic, Cardano and Rootstock will be added this year. Besides coins, Infinito Wallet is also able to operate all tokens based on the Ethereum ERC20 and NEO NEP-5 blockchain platforms, which can be useful for traders and investors. There is an expanding list of thousands of tokens available, such as VeChain, EOS, OmiseGo, TheKey, Trinity, Golem and Ontology.

Fast EOS token registration

Infinito Wallet developers say their product is among the first to support EOS mainnet launch. After the EOS ICO ends on June 1, all its ERC20 tokens will need to be registered with EOS in order to claim the new EOS tokens on its own blockchain platform, otherwise they become frozen and non-transferable on the Ethereum blockchain.

The feature of registering EOS starting May 16 was recently announced on theproject’s blog and consists of a few steps. First, the user has to click on a special banner in the Infinito Wallet app (available for iOS and Android). In the next window he would see the total amount of EOS tokens in his wallet and the “Next” button, which he should tap. Then he needs to enter his account’s password and simply click the “Register” button to conclude the procedure. The minimum amount to complete address registration is 0.001 ETH.

Security system to prevent fraud

Infinito is neither a cold nor a hot wallet. It operates as a cold storage on mobile devices but has to be connected to the Internet while in operation. At the same time, the company underlines that it doesn’t keep any user data or log activity on its servers. Instead, all of the data is encrypted and stored in the user’s device.The service also utilizes “Hierarchical Deterministic” tech, which is a unique phrase consisting of 12 words in English, ordered in a certain way. A passphrase is generated once during the signup and then kept by the user offline. Using the passphrase is the only way to recover the wallet in case of the app being accidentally deleted or a device lost. As the project’s authors state, they have developed the only wallet that uses a single passphrase for all ERC20 and NEP-5 based tokens.

App functions and future development plans

The Infinito Wallet has the app for iOS and Android with practical functionality. It combines a whole list of operations with the currencies, including transfers between each other within a wallet. Due to a blockchain specifics there is a transaction fee, the rate of which can be adjusted by the user. Selecting a higher fee will produce faster transactions and vice versa. Among other options is a contacts list with frequent and favorite recipient addresses. A user may oversee a detailed log of transactions and sessions. Several wallets can be created on one account, each one having its own purpose — personal savings, trading etc. Users may also turn on fingerprint verification or export transactions data.Plans for development in 2018 include integration of exchanges, identification and know your customer solutions, and other blockchain-related business services. The service claims to introduce further features such as a portfolio display, further transaction cost optimization and history memos, as well as release awfully compliant in-app exchange, functions to import existing funds (cold storage and private keys), and export funds to save. The app interface is translated into five languages, with five more to come within the year, including German, French and Italian.Infinito is an active member of the blockchain community. It co-founded the Asia Blockchain Education Program and Blockfin Asia conference. The company attends Infinity Blockchain Labs Europe. Infinito project leaders also spoke at major technology conferences in the UK, Japan, Germany, China and Hong Kong. The company developing Infinito Wallet is registered on the Isle of Man and says its sole objective is “to become the world’s market-leading crypto wallet”. The company now boasts a team of more than 180 in-house blockchain developers, marketers, researchers and strategic planners.